Big milestone for New Jersey sports betting.
The state collected more than $1.2 billion in sports wagers dating back to June, when sports betting first became legal in the Garden State. That’s according to data provided by the Division of Gaming Enforcement, which today released a seven-page report with their findings.
Year to date, the total handle for both on-site and internet sports betting was $1,247,290,341. That’s billion, with a B.
Handle is the total amount bet on sports and doesn’t include the outcome of future bets.
You see about 63% of bets were placed online while 37% were placed at actual casinos in New Jersey. In December, roughly 75% of sports bets were placed online.
The DGE also provides information for how each specific casino did (revenue from settled bets), which includes data on casino wins, internet gaming, and sports wagering. From this list, it’s hard to discern which sportsbook or online app is which since each falls under a licensed operator. New Jersey doesn’t specifically spell out the top-line numbers for digital properties, but it’s easy to estimate since online sports betting income is taxed at a 13% rate in New Jersey and you can figure out the total by multiplying the tax paid by 7.69.
Bally’s (Caesars and 888sport): $108k
Borgata (playMGM): -$22k
Ocean Resort (William Hill): $1.03 million
Meadowlands (FanDuel and PointsBet): $5.58 million
Monmouth (William Hill and SugarHouse): $1.29 million
It’s impossible to tell how much each app generated in cases where there is more than one per casino (New Jersey allows up to three brands to use its license), but we can surmise that a significant chunk of Resorts Digital’s $6.8 million came from DraftKings, while almost all of the Meadowlands’ haul came from FanDuel (PointsBet was and remains in very soft launch in New Jersey). SugarHouse likely accounted more most of Monmouth’s output.
New Jersey took in $319 million in sports bets in December, down slightly from $330 million in November.
Here’s how each location, plus the racetracks, did in sports wagering revenue for 2018:
Obviously there’s no comparison to 2017, when you couldn’t place bets. And while some of those spots opened in June and July, others did not go live until August, so we’ll have a more clear picture on how each performs after a full 2019 calendar year.
Not surprisingly, the report confirms that football was the most popular sport for wagering, with half a million “completed events” (their terminology). Parlay bets were number two, ahead of basketball, “other,” and baseball.
Full disclosure: We are an affiliate of legal New Jersey sports betting sites, so we may receive a commission if you use our links.